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PM Modi all praises for Rajan

Prime Minister Narendra Modi praised RBI Governor Raghuram Rajan's work and said that his patriotism is no less than anyone. Attacking Subramanian Swamy, PM Modi added that such publicity stunts are not good for nation and no one should consider himself above the law.

Next RBI GovernorGovernment shortlisted four candidates

Post Raghuram Rajan's announcement, the Government of India has been on a search for a suitable candidate to succeed him as the RBI Governor.

Reportedly, the list has now been narrowed down to four candidates, which includes the RBI Deputy Governor Urjit Patel, former deputy governors Rakesh Mohan and Subir Gokarn and the State Bank of India Chair Managing Director Arundhati Bhattacharya.

RBI sees no female governor

While Arundhati Bhattacharya was one amongst the four shortlisted candidates for the post of RBI Governor, the government has decided to extend her term as the Chairman of the State Bank of India by a year, ruling out her contendership.

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01 Jul 2016Cutting down the race to be the next RBI Governor

Out of the four shortlisted names for the post of RBI Governor, former deputy governors Subir Gokarn and Rakesh Mohan seem to be the most-likely successors.

The government is expected to take a decision on the matter by 15 July.

Sources stated that government officials preferred an economist to be appointed to the position after the much hyped exit of Raghuram Rajan.

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Raghuram Rajan pitches a longer term for RBI Governor

While briefing the Parliamentary Standing Committee on Finance, Raghuram Rajan said that a three-year term for a Central Bank governor is 'short'. He cited the example of U.S. Federal, pitching for a four-year term.